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Government Unveils Support Measures for Businesses Amid US Tariff Concerns

Government Unveils Support Measures for Businesses Amid US Tariff Concerns

Provided by Nation.

State banks ordered to reduce profit targets and lower interest rates to assist exporters and SMEs

 

The Thai government has launched urgent measures to bolster businesses affected by new US tariff policies, according to Deputy Prime Minister and Finance Minister Pichai Chunhavajira.

 

Following directives from Prime Minister Paetongtarn Shinawatra, the Finance Ministry on Thursday has instructed state financial institutions to adjust their operational strategies by reducing profit targets to allocate funds for economic stimulus programmes and assistance schemes for affected entrepreneurs.

 



 

All seven state-owned financial institutions are currently preparing to implement these policies, including the Government Savings Bank (GSB), Bank for Agriculture and Agricultural Cooperatives (BAAC), Government Housing Bank (GH Bank), Small and Medium Enterprise Development Bank (SME D Bank), Export-Import Bank of Thailand (EXIM Bank), Islamic Bank of Thailand, and Thai Credit Guarantee Corporation (TCG).

 

Among the planned initiatives is a 100 billion baht soft loan programme by the Government Savings Bank, which features distinctive criteria compared to other soft loan schemes. 
  



 

This programme specifically targets three business groups: US market exporters, supply chain businesses, and manufacturers facing intense competition from cheap imported goods.

 

Small and medium-sized enterprises (SMEs) across all sectors will also be eligible.

 

Other state financial institutions are preparing economic stimulus measures for the agricultural and property sectors, including interest rate reduction programmes to alleviate the impact of US tax policies on exporters and SMEs/supply chain businesses.

 

These proposals are currently being finalised for cabinet consideration.
  



 


"Amid volatility where Thai businesses face uncertainty from external factors affecting economic confidence and stability, state financial institutions under the Finance Ministry's supervision play a crucial role in supporting government policies," Pichai stated. 


 

These mechanisms aim to help businesses weather the crisis and ensure Thailand's economy can grow sustainably in the long term.

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AFP-JIJI PRESS NEWS JOURNAL


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